ken griffin global recession iran strait of hormuz 1234781281

Billionaire hedge fund manager and prominent art collector Kenneth C. Griffin has issued a stark warning regarding the global economy, stating that a recession is inevitable if the Strait of Hormuz remains closed through the end of the year. Speaking at the Semafor World Economy summit, Griffin highlighted that the closure of this vital oil passageway has created energy shocks and treacherous conditions for central bankers, potentially forcing further interest rate hikes to combat inflation.

“Primary Structures,” Turns 60

On April 28, 1966, The New York Times published a review by conservative critic Hilton Kramer of the Jewish Museum's exhibition “Primary Structures,” organized by curator Kynaston McShine. Kramer, disdainful of contemporary art, described the 42 American and British artists as rejecting personal expression and subjective inflection, yet he acknowledged the show as the first comprehensive glimpse of a style that would define the 1960s. The exhibition featured then-little-known artists including Carl Andre, Dan Flavin, Donald Judd, Sol LeWitt, Walter De Maria, Robert Morris, Anne Truitt, John McCracken, Larry Bell, Robert Smithson, Judy Chicago, Philip King, Michael Bolus, and David Annesley, and is now recognized as the ur-survey of Minimalism—a term McShine deliberately avoided.

Paul McCarthy: ‘The world is now an extreme absurdity. The work is a reaction to that’

Paul McCarthy, the 80-year-old American artist known for his transgressive critiques of consumer culture, has opened a new exhibition titled "SS EE Saint Santa Eva Elf" at Hauser & Wirth in Paris. The show features large-scale drawings and a six-channel video installation created during filmed performances with his long-term collaborator, German actress Lilith Stangenberg, who plays the Elf. McCarthy revisits his iconic Santa Claus motif, portraying him as a dark, psychotic figure—the "god of capitalism and consumption." The exhibition also includes earlier drawings made with Stangenberg at Bowman Hal gallery in Madrid. The interview reveals that McCarthy's home and studios in Los Angeles were destroyed by wildfires, resulting in the loss of art, drawings, notebooks, and books, and the cancellation of a planned London show.

Montclair Art Museum Hires Esteemed Curator Kate Kraczon After Layoffs at Brown University

The Montclair Art Museum in New Jersey has appointed Kate Kraczon as its new chief curator, effective June 15. Kraczon previously served as director of exhibitions and chief curator at the David Winton Bell Gallery at Brown University, where she was laid off in late 2024 amid a wave of cuts. She succeeds Gail Stavitsky, who held the post since 1994. The museum also recently hired Todd Caissie, an enrolled member of the Osage Nation and former director of Canada’s New Brunswick Internment Camp Museum, as its director.

Emails Suggest Venice Biennale Organizers Planned for Limited Russian Participation, SF Appoints First Arts and Culture Director, and More: Morning Links for April 28, 2026

Emails between Venice Biennale organizers and the Russian Pavilion commissioner reveal plans for limited Russian participation: the pavilion would open during the vernissage (May 5–8) with live performances, then close to the public after May 9, with multimedia documentation viewable from outside. The messages, dating to June 2025, also show Biennale staff helping Russian artists obtain visas. Organizers insist they complied with European sanctions, which prohibit financial support or direct collaboration with state-backed Russian entities. Separately, San Francisco has appointed Matthew Goudeau as its first executive director of arts and culture, a new role overseeing three public art agencies amid local arts closures.

Recently restored castle in Norwich among five institutions shortlisted for UK's top museum prize

Five UK museums have been shortlisted for the 2026 Art Fund Museum of the Year prize. Norwich Castle Museum & Art Gallery, recently restored through a £27.5 million redevelopment, is nominated alongside the National Gallery in London, The Fitzwilliam Museum in Cambridge, The Box in Plymouth, and the V&A East Storehouse in London. The winner, to be announced on 25 June, will receive £120,000.

Shreg the green ogre, a grey obsessive and Vermeer’s boiled egg – the week in art

This week's art roundup from The Guardian highlights a range of exhibitions across the UK, including Bruce Asbestos's 'Bootleg Shreg 2' at Exeter Phoenix Gallery, a playful show featuring a green ogre that parodies copyright rules. Other notable shows include Roy Oxlade's primitive paintings at Alison Jacques, May Morris's craft legacy at Lady Lever Art Gallery, a 30-year anniversary group show at Timothy Taylor, and Alan Charlton's monochrome grey works at Annely Juda Fine Art. The article also features an image of a naturally sculpted rock on Kangaroo Island, a review of the Turner Prize nominees, and a masterwork analysis of Vermeer's 'The Guitar Player' at Kenwood House, which was stolen in the 1970s and recovered with the help of a clairvoyant.

2026 Venice Biennale pavilions: your go-to list [Updated]

ArtReview has compiled a running list of national pavilions for the 61st Venice Biennale, running from 9 May to 22 November 2026. The Biennale was set to be curated by Koyo Kouoh, who died on 10 May 2025. Recent announcements include Haitham Al Busafi representing Oman, Genti Korini representing Albania with a three-channel video installation titled 'A Place in The Sun (still)', and Matías Duville representing Argentina with an interactive salt-and-charcoal installation. The Australia Pavilion will feature artist Khaled Sabsabi and curator Michael Dagostino, who were initially dropped due to controversy over Sabsabi's 2007 film 'You' but later reinstated. Florentina Holzinger will represent Austria with a water-themed performance.

Lalanne mirrors owned by Yves Saint Laurent and a classic Diane Arbus photo: our pick of the April auctions

Major auction houses are preparing for a series of high-profile sales in April, headlined by a suite of fifteen gilt-bronze mirrors by Claude Lalanne. Originally commissioned for the Paris apartment of fashion icon Yves Saint Laurent and Pierre Bergé, the mirrors are expected to fetch between $10m and $15m at Sotheby’s. Other notable lots include a rare Diane Arbus photograph from the collection of Lily Tomlin and Jane Wagner, a pastoral landscape by Russian artist Konstantin Somov, and a centuries-old drawing based on Albrecht Dürer’s famous rhinoceros woodcut.

German artist Georg Baselitz dies aged 88

German artist Georg Baselitz has died at age 88, as confirmed by the Thaddaeus Ropac gallery. Known for his expressive paintings and sculptures, Baselitz rose to prominence in the 1960s after a scandal over sexually symbolic works led to a high-profile court case. He pioneered painting canvases upside down from 1969 onward, a technique he used to grapple with German history and collective guilt. His work spanned six decades and included notable sculptures, such as a wooden figure at the 1980 Venice Biennale that appeared to perform a Nazi salute, which he later clarified was inspired by an African artifact. Baselitz achieved international acclaim in the 1980s and became one of Germany's highest-priced living artists, alongside Gerhard Richter.

Concrete sun tunnels and shimmering pools of water: the monumental land art of Nancy Holt

Nancy Holt (1938-2014), a pioneering land artist known for her monumental work *Sun Tunnels* (1976) in the Utah desert, is the subject of a new exhibition at the Goodwood Art Foundation in Sussex. Titled *MOONSUNSTAR EARTHSKYWATER*, the show is the first UK retrospective to bring together Holt's photographic works, films, poetry, indoor installations, and outdoor pieces, including *Hydra's Head*, a constellation-inspired installation of six circular pools in a chalk quarry. The exhibition highlights Holt's recurring motifs of circles and systems, tracing them from her early concrete poem to her large-scale cosmological works.

Berlin Modern Museum Delayed Again as Moisture Damage Pushes Opening to 2030

Berlin's long-awaited Berlin Modern museum has been delayed again, with its opening now pushed to 2030 due to moisture damage in the building's shell and microbial contamination in other parts of the structure. The Prussian Cultural Heritage Foundation announced the delay after the Berlin-Brandenburg Broadcasting Corporation broke the story. The Herzog & de Meuron-designed building, originally scheduled to open this year as the Museum of the 20th Century, has faced multiple setbacks since groundbreaking in December 2019, with completion dates slipping from 2026 to 2028, then 2029, and now 2030. The project's cost has ballooned from €200 million to €507 million.

Spice up your life: Tate channels 90s glam at The Groucho Club

Tate Britain held a press preview for its upcoming exhibition "The 90s: Art and Fashion" (8 October 2026 – 14 February 2027) at The Groucho Club in London. The show, curated by former British Vogue editor Edward Enninful alongside Tate curators, explores the creative energy of the 1990s, featuring works by artists such as Damien Hirst, Corinne Day, Helen Chadwick, and Jenny Saville. Enninful emphasized that the exhibition is not solely focused on the Young British Artists (YBA) moment but presents a broader cultural narrative.

Museum acquisitions round-up: Andy Warhol in an apron, a solid-silver relief and Christo's luggage rack

Major international institutions have secured significant new acquisitions, ranging from intimate photographic archives to monumental silver reliefs. The Smithsonian’s Archives of American Art received over 400 stereoscopic slides by Ronnie Cutrone documenting Andy Warhol’s Factory, while the Germanisches Nationalmuseum acquired Luigi Valadier’s final silver masterpiece, 'Lamentation of Christ'. Additionally, the Christo and Jeanne-Claude Foundation donated 14 works to the City of Paris, including the early sculpture 'Package on a Luggage Rack' for the Musée d’Art Moderne de Paris.

The Box LA, Beloved Risk-Taking Art Space, Closes After 19 Years

The Box LA, a pioneering experimental art space in Los Angeles known for its fearless support of unconventional and performance art, is closing after 19 years. Founded in 2007 by Mara McCarthy in Chinatown (later moving to the Arts District), the gallery operated as a commercial space but with a nonprofit ethos, championing underrecognized artists from her father Paul McCarthy's generation alongside emerging talents. Its final exhibition, a retrospective of Wally Hedrick presented with Parker Gallery, ended April 4, with a closing celebration planned for June 6 featuring a fashion show by Johanna Went. The closure is attributed to financial struggles, exacerbated by the Eaton Fire that destroyed McCarthy's home and her family's, and a shift in support from McCarthy Studios.

Eyecatchers and Discoveries

Eyecatcher und Entdeckungen

The 42nd edition of Art Brussels has scaled down to 138 exhibitors from 165 in 2025, responding to a sluggish contemporary art market and economic uncertainty. The fair introduces a new section called 'Horizonte,' curated by Devrim Bayar of Kanal Centre Pompidou, featuring six large-scale installations including Pao Hui Kao's delicate paper-and-lacquer refuge and Oswald Oberhuber's €380,000 panoramic painting 'Paradiesgarten.' Galleries are now consolidated into one hall, with fewer blue-chip participants but a continued focus on living artists (95% of the 500 shown). Notable presentations include Xavier Hufkens' solo show of Cassi Namoda, Krinziger's works by Marina Abramović and Monica Bonvicini, and Richard Saltoun's historical mix of Fernand Khnopff, Everlyn Nicodemus, and Suzanne Van Damme.

With her monumental frescoes and trompe-l'œil, Lucy McKenzie offers a "critical archaeology" of modernity

Avec ses fresques monumentales et ses trompe-l’œil, Lucy McKenzie offre une “archéologie critique” de la modernité

Scottish artist Lucy McKenzie has opened a major solo exhibition titled "Plastic Newspaper" at the Crac Occitanie in Sète, France. This is her first large-scale personal exhibition in the country. The show features monumental frescoes, trompe-l'œil, and immersive installations, including a full-scale fake sports shop facade created with her fashion label Atelier E.B. It represents the third stage of a cycle exploring the origins of mass media, examining 19th-century entertainment devices like panoramas and dioramas.

Anne Hardy’s Hollow Humanoids

British artist Anne Hardy presents a suite of floor-based installations and assemblage sculptures titled "Interloper" at Visual. The exhibition features a series of "Beings"—twisted, life-size humanoid entities constructed from rusted wire, crushed cans, soil, and the artist’s own cast body parts and clothing. These figures, often posed in yoga-like positions or meditative stances, appear as hollow, faceless outlines that blend a sense of vitality with physical disintegration.

A Century of Esoteric and Occult Artistry in “A Queer Arcana” at Palm Springs Art Museum

The Palm Springs Art Museum has unveiled "A Queer Arcana," an ambitious exhibition exploring the intersection of LGBTQ+ culture, occultism, and esoteric spirituality. Spanning the 20th and 21st centuries, the show features a diverse array of media—including a major four-banner commission by the collective Hilma’s Ghost—and is organized into thematic sections such as Tarot, Sex Magick, and healing. The project emerged from the museum’s Q+Art initiative, a unique program dedicated to queer art histories within a general art museum context.

Remembering Agosto Machado, Keeper of Queer Histories

Agosto Machado, a seminal performer, archivist, and fixture of New York’s downtown queer arts scene, has passed away. Known as a "keeper of secrets" and a vital connector within the avant-garde community, Machado was a muse to filmmaker Jack Smith and a lifelong friend to Warhol superstar Mario Montez. His life spanned the height of the East Village performance era, where he transitioned from a quiet observer to an essential participant in the preservation of underground history.

Au boulot ! 10 œuvres qui célèbrent le travail

Beaux Arts Magazine presents a feature on ten artworks that celebrate labor, from ancient Egyptian frescoes to modern depictions of workers. The article highlights pieces such as Pieter Brueghel the Elder's "The Harvesters" (1565), Diego Velázquez's "The Spinners" (c. 1657), and Johannes Vermeer's "The Milkmaid" (c. 1660), examining how artists have elevated peasant, artisan, and domestic work from background detail to central subject. The feature coincides with the Musée d'Orsay's nationwide initiative "100 œuvres qui racontent le travail" (100 Works That Tell the Story of Work), which explores the history and representation of labor in art.

A Titanic Face-to-Face Brings Together the Vibrant Bodies of Rodin and Michelangelo at the Louvre

Un face-à-face titanesque réunit les corps vibrants de Rodin et Michel-Ange au Louvre

The Louvre has mounted an exhibition that places the works of Auguste Rodin in direct dialogue with those of Michelangelo, focusing on the profound influence of the Renaissance master on the 19th-century sculptor. Key sculptures like Rodin's 'Adam' and 'The Age of Bronze' are juxtaposed with Michelangelo's 'Dying Slave' and 'Rebellious Slave', highlighting shared themes of contorted male forms and masterful use of contrapposto.

15 Artists Explore the Potentiality of Fabric and Fiber in ‘Textile Art Redefined’

The Saatchi Gallery in London is hosting 'Textile Art Redefined,' a group exhibition featuring 15 artists who push the boundaries of fiber and fabric. Curated by Helen Adams, the show includes diverse works ranging from Ian Berry’s immersive installations made of recycled denim to Kenny Nguyen’s undulating silk wall pieces and Anne von Freyburg’s textile reinterpretations of Rococo paintings. The exhibition coincides with the release of Adams' new book, 'Textile Fine Art,' which explores the medium's evolution from functional craft to a celebrated pillar of contemporary art.

The Relentless Avant-Garde of The Renaissance Society

The Renaissance Society at the University of Chicago, founded in 1915, has consistently championed avant-garde contemporary art from its modest gallery space on the fourth floor of Cobb Hall. Under the leadership of current director Myriam Ben Salah (since 2020), the institution continues its legacy of presenting visionary works by artists who later become household names, including Henri Matisse, Pablo Picasso, Man Ray, and Félix González-Torres. The article traces the society's history through its pioneering female directors—Eva Watson Schütze, Frances Strain Biesel, and Suzanne Ghez—who shaped its forward-thinking exhibition program, from early modernist shows to local Chicago talent and cross-disciplinary collaborations.

Botticelli Painting Banned from Export Will Stay in the UK

A Botticelli painting, *The Virgin and Child Enthroned* (1470s), previously placed under an export ban to keep it in the UK, has been acquired by the Klesch Collection. The work, valued at £10.2 million, will remain in England through a three-year loan to the Ashmolean Museum at the University of Oxford. The painting was bought in 1904 by Harriet Sarah Jones Loyd (Lady Wantage) from Italian dealer Elia Volpi, who had acquired it from the Magherini Graziani family.

Buffalo AKG Art Museum Director Janne Sirén to Depart After 13 Years

Janne Sirén, director of the Buffalo AKG Art Museum in Upstate New York, will step down in October after 13 years. His tenure included a major $230 million expansion in 2023 that doubled the museum's square footage and drew a record 340,000 visitors in the following year. However, his departure follows local media reports that he used a museum loan to help finance his $710,000 home, with the Erie County Comptroller’s Office alleging he failed to repay it and that the loan may violate state nonprofit laws. The museum defended the loan as common in executive recruitment and stated it operates in full compliance with the law.

The Iran War Is Already Tanking Luxury Sales in the Gulf—Could Art Be Next?

Escalating military conflict between the US, Israel, and Iran, which has included strikes on Gulf states, is disrupting the region's burgeoning art market. Major events like Art Dubai have been postponed and scaled back significantly due to exhibitor withdrawals, and planned fairs like Frieze Abu Dhabi face uncertainty. The instability has also caused a sharp spike in shipping and insurance costs for artworks moving through the region.

Buzkashi horsemen battling for a headless goat: Todd Antony’s best photograph

Photographer Todd Antony discusses his black-and-white series capturing the Central Asian sport of buzkashi, in which horsemen compete to grab and control a headless goat carcass. He traveled to Tajikistan to document matches involving up to 300 riders, shooting from a pickup truck and later taking portraits of riders on farms. One striking image shows three horses and their riders against a snowy mountain backdrop, with fog rolling in—a moment that inspired him to channel Richard Avedon's style using artificial lighting.

The Interview: Ei Arakawa-Nash

Ei Arakawa-Nash, a Japanese American performance artist, was selected to represent Japan at the 61st Venice Biennale, becoming the first non-Japanese national to do so in a solo presentation. This follows his first solo museum exhibition, "Paintings Are Popstars," at Tokyo's National Art Center in 2024, which was also the center's first solo show devoted to a performance artist. In an interview with ArtReview, Arakawa-Nash discusses his naturalization as a U.S. citizen, his complex relationship with national identity, and his upcoming Venice exhibition titled "Grass Babies, Moon Babies," cocurated by Lisa Horikawa and Takahashi Mizuki, which will explore themes of care and reparation using babies as a central motif.

Candidates Announced for the 2026 Cannes Film Festival (Again No Italians, Just Like at the Biennale)

Annunciati i candidati al Festival di Cannes 2026 (pure qui niente italiani, come alla Biennale)

The 79th edition of the Cannes Film Festival has unveiled its official selection for 2026, scheduled to run from May 12 to 23. Led by President Iris Knobloch and General Delegate Thierry Frémaux, the festival will open with Pierre Salvadori’s 'La Vénus électrique,' a romantic comedy set in 1928 Paris centered on a painter who loses his inspiration. The competition lineup features a global array of heavyweights, including new works by Pedro Almodóvar, Ryusuke Hamaguchi, Hirokazu Kore-eda, and Asghar Farhadi.